Total amount raised
$612.5 Millions
Latest funding date
Location
Dapper Labs has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The company leverages blockchain technology to create engaging digital experiences, including popular products like NBA Top Shot and CryptoKitties.
Keep reading to explore the intricacies of Dapper Labs' fundraising journey and the investors backing this innovative platform.
What Is Dapper Labs?
Dapper Labs, founded in 2018, is headquartered in Vancouver, Canada. The company was established by Roham Gharegozlou, Dieter Shirley, and Mack Flavelle.
Specializing in blockchain technology, Dapper Labs creates engaging digital experiences such as NBA Top Shot and CryptoKitties. Their mission is to make Web 3 accessible and beneficial for everyone.
With a team of over 100 employees, Dapper Labs continues to innovate in the realm of digital collectibles and decentralized applications.
How Much Funding Has Dapper Labs Raised?
- Series A (Mar 20, 2018)
- Amount Raised: $12.9M
- Date: March 2018
- Lead Investors: Andreessen Horowitz, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial blockchain-based products.
- Series A (Oct 19, 2018)
- Amount Raised: $15M
- Date: October 2018
- Lead Investors: Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development team and accelerate product development.
- Series B (Sep 12, 2019)
- Amount Raised: $11.2M
- Date: September 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the Flow blockchain and support new product launches.
- Series B (Aug 6, 2020)
- Amount Raised: $13.4M
- Date: August 2020
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the Flow blockchain infrastructure.
- Series C (Mar 30, 2021)
- Amount Raised: $305M
- Date: March 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to other sports beyond the NBA Top Shot platform.
- Series D (Sep 21, 2021)
- Amount Raised: $250M
- Date: September 2021
- Lead Investors: Coatue
- Valuation at Round: $7.4 billion
- Motivation Behind the Round: To scale and support additional brand-driven sports, entertainment, and music-based products on the Flow blockchain.
- Venture Round (Nov 21, 2022)
- Amount Raised: $5.1M
- Date: November 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovation and development in the blockchain space.
Total Amount Raised: $612.6M. Current Valuation: $7.4 billion.
Key Investors
- Coatue
- Details: Coatue is a global investment firm that focuses on public and private equity markets. They are known for their investments in technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snapchat, DoorDash, ByteDance (TikTok).
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a venture capital firm that invests in technology companies across various stages. They have a strong presence in the blockchain and crypto space.
- Investment Focus Areas: Technology, blockchain, crypto, social media.
- Notable Investments: Facebook, Airbnb, Coinbase.
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc. They invest in a wide range of sectors, including technology and life sciences.
- Investment Focus Areas: Technology, life sciences, consumer products.
- Notable Investments: Uber, Slack, Medium.
- Version One Ventures
- Details: Version One Ventures is an early-stage venture capital firm that focuses on SaaS, marketplaces, and blockchain companies. They aim to support founders in building impactful companies.
- Investment Focus Areas: Early-stage technology, SaaS, marketplaces, blockchain.
- Notable Investments: Coinbase, Figure, Shippo.
- BOND
- Details: BOND is a growth-stage investment firm led by Mary Meeker. They focus on technology companies that are poised for significant growth.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Spotify, Square, Airbnb.
What's Next for Dapper Labs?
Dapper Labs is poised to capitalize on the burgeoning interest in NFTs and blockchain technology. With partnerships like the one with LaLiga, they are set to tap into a global fan base, expanding their reach beyond NBA Top Shot. The Flow blockchain's adoption by over 3,000 developers and brands further underscores the vast opportunities ahead.
Future fundraising seems promising, given their $7.6 billion valuation and strong investor confidence. Additional funding rounds or even an IPO could be on the horizon as they continue to scale and diversify their offerings. However, challenges such as regulatory scrutiny and market competition remain significant hurdles.
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